The company yesterday expanded its electric-rickshaw range in the country by launching 'Y4Alfa' priced at Rs 1.2 lakh (ex-showroom Delhi) and plans to invest around USD 5 million to expand its production capacity and hiring more employees.

Terra Motors also introduced Terra battery for e-rickshaws priced at Rs 27,000.

"India is the second largest producer of three-wheelers in the world. Hence, India is an important market for us. We plan to sell 30,000 units of e-rickshaws and 20,000 sets of Terra batteries by the end of this year," Terra Motors Country Director Teppei Seki told reporters here.

The company aims to enhance its dealers network from 13 to around 100 outlets during the year, he added.

Terra Motors has a manufacturing facility for e-rickshaws in Gurgaon with an installed capacity of 2,000 units per month. It sells one e-rickshaw model in the country.